Developers’ sales for the week of 27 Nov – 3 Dec 2023 were 32 units
The CCR accounted for 21.9% while the RCR and OCR made up 40.6% and 37.5%
Sales in the Core Central Region (CCR) is equally split between 7 projects
The respective top-selling projects is The Reserve Residences in the RCR, and EC – North Gaia and The Myst in the OCR
The Government released two residential sites at Zion Road (Parcel A) and Upper Thomson Road (Parcel A) mixed with serviced apartments
Not all developers have the expertise to operate a serviced apartment and it may limit the participation to only a few select bigger developers
The capital expenditure for serviced apartments will be front loaded and requires ample liquidity from developers
The Zion Road (Parcel A) site may see a top bid of more than $1,300 psf ppr
The Upper Thomson (Parcel A) site may see a top bid not exceeding $1,000 psf ppr
